Earlier this year, the Oklahoma Legislature created the Oklahoma Parental Choice Tax Credit Program. It provides a refundable income tax credit beginning with tax year 2024 for Oklahoma taxpayers who incur expenses for a...more
The Oklahoma Tax Commission has granted relief to taxpayers affected by the severe winter storms that began on February 8, 2021. In granting relief, the Commission took into consideration the relief announced by the Internal...more
The day after the Oklahoma Tax Commission followed the previous guidance issued by the Internal Revenue Service to allow taxpayers to defer income tax payments but not filing requirements, U.S. Treasury Secretary Steven...more
3/23/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Deadlines ,
Filing Deadlines ,
Filing Requirements ,
Income Taxes ,
IRS ,
New Guidance ,
Relief Measures ,
Secretary of the Treasury ,
State Taxes ,
Tax Liability ,
Tax Returns ,
U.S. Treasury
The Oklahoma Tax Commission has followed the guidance issued by the Internal Revenue Service to allow individual taxpayers to defer up to $1 million of income tax payments due on April 15, 2020, until July 15, 2020, without...more
The Tax Cuts and Jobs Act of 2017 limited the state and local taxes paid deduction available to individual taxpayers to $10,000. The deduction is most notably taken by Oklahomans on their federal tax return to deduct state...more
10/17/2019
/ Charitable Donations ,
Federal Taxes ,
Income Taxes ,
IRS ,
Local Taxes ,
New Rules ,
Property Tax ,
State and Local Government ,
State Taxes ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Returns ,
U.S. Treasury